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Mommy Millionaire

Kim Lavine has transformed the lives of millions through appearances on the Today Show, Rachel Ray, GMA, NBC, ABC, CNN, CNBC, FOX, NPR, Oprah & Friends & features in USA Today, Guideposts, Inc, Business Week, Entrepreneur, and Forbes, to name a few. Her startup bible MOMMY MILLIONAIRE was called by Publishers Weekly “A top-notch how-to guide on launching a business…a rare gem.”

Read more in the newly updated Platinum Version of MOMMY MILLIONAIRE Available for immediate download by eBook or PDF. Filled with all kinds of bonus materials including document templates, updated tips and the real skinny on what went down since I wrote this book.

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Kim Lavine
Listen as I tell you a story, of history being made...

Kim is on a mission to inspire people to follow their dreams, empowering them with hope, honesty and faith.

Identified as America’s Expert on Inspirational Business Advice, Kim touches and inspires millions around the world through her appearances on The Today Show, Rachel Ray, Good Morning America, NBC & ABC news, CNN, CNBC, FOX, NPR, Oprah & Friends Radio Network, and features in USA Today, Country Living, Guideposts, Inc, Business Week, Entrepreneur, Women's World, and American Baby to name a few. Read More...

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Thursday
Jun042015

« Majority Stock Ownership Means Nothing Unless... »

by Kim Lavine

We went to lunch with Smart Money after the meeting, and he filled me in on some of the backroom details.

Equity for Work

Symphony Money, Mr. CFO and Smart Money would all get a stake in the company in exchange for working for it for two years, at no cost. In order to make the deal work without taking too much of an equity hit on my end, Smart Money had lowered his percentage, getting the others to make similar concessions.

Reverse Vest

Because the Angels had asked that I get a reverse vest just like them, meaning that noone would get any shareholder stake in the company until they had actually worked two years, Smart Money got them to throw out that condition for me as long as it applied to them too.

I knew this was a symbolic concession on my part since I had no intention of taking a reverse vest myself, or having to work two years to legally get the ownership I already had.

More Moving Parts

I had no doubt that they would do the work, but unless you have similar confidence in your shareholders, I wouldn’t recommend giving away equity until people actually do the work. In addition, Smart Money worried that new tax laws would penalize us severely if we took our equity two years from now when the company would be worth a lot more, than if we took it at the front end.

This must have put everybody in a very generous spirit, because they agreed to the high valuation, allowing me to raise the capital I needed while still retaining ownership of sixty five percent of my company, including the shareholder stakes.

I was about to find out that owning a majority of your company’s stock meant almost nothing when it came right down to controlling it, or even getting paid!

An Excerpt from MOMMY MILLIONAIRE

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